As winners, The Modernist will receive a $10,000 cash prize to help boost the business.

Judges say that the Modernist will be bringing a new element to nightlife in Downtown.

"We really want to make a place that's for everyone. We want to invest a lot in the design and create something that's different. We want something that's classy, industrial but also a little artsy in there," said president Carmen Serrato.

The bar is scheduled to open its doors in the Downtown Brewery District this winter.

Other competition winners included coffee house Cafe Alchemy and fashion store Dress Her.